"Builders be aware!"
H M Revenue & Customs have announced the details of their latest “amnesty;” this time the amnesty is aimed at people working in home improvement trades. This will include several 100,000 trades people in construction and building work such as roofing, window fitting, bricklaying, carpentry and joinery.
The exact terms of the amnesty have not yet been announced, but if you provide H M Revenue & Customs with details of previously undeclared income, then you will face reduced penalties.
H M Revenue & Customs are also targeting what they call the “e-market place” by which they mean people trading on the internet. They specify that people who only sell a few items and who are not traders are unlikely to be liable to tax and will not be targeted by this campaign.
There is also an ongoing scheme aimed at tutors and coaches in the academic field.
If you have income (or expenditure incorrectly claimed) which has not been declared to H M Revenue & Customs, we would strongly recommend that you contact Victoria Bishop, or the partner you normally deal with, for a private, confidential chat on 01900 603623 or victoriabishop@robinsonco.co.uk.
Although the “amnesty” specifically targets the trades mentioned we would strongly recommend everybody to contact Victoria Bishop if there is anything at all about your tax affairs which has not been disclosed to H M Revenue & Customs, as penalties for non declaration are severe.
